A country temporarily producing a combination of 12 units of guns and 5 units of butter would be ________________ (outside/on/inside) the production possibilities curve.
outside
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Unemployment insurance typically replaces a worker's full earnings
Indicate whether the statement is true or false
In the long run, a monopolistic competitor's price will equal: a. marginal revenue
b. average total cost. c. marginal cost. d. minimum average total cost.
A drought that decreases Russian wheat production will
A. shift the supply curve of US corn to the right. B. shift the supply curve of US corn to the left. C. shift the demand curve for US corn to the right. D. shift the demand curve for US corn to the left.
Other things equal, an increase in the equilibrium interest rate will:
A. increase R&D spending. B. rise when the supply of loanable funds increases. C. decrease purchases of capital goods and reduce R&D spending. D. increase bank lending.